The Australian Rugby League Commission will give NRL clubs advance payments of $1.5 million despite ongoing talks over a new perpetual licence agreement.
A memorandum of understanding was sent to all clubs in April by the commission which, when signed, required a binding funding agreement to hold each club to a perpetual license to participate in the NRL.
Boosted by the league’s new broadcast deal, the NRL will give each club that signed the MoU an up-front payment of $1.125 million. This will be followed by monthly instalments to reach a total of $1.5 million by October.
ARLC Chairman, John Grant, is quoted in the Canberra Times. “A new perpetual licence is a very significant step forward for the NRL clubs and the game and deserves the appropriate amount of time to be applied to its consideration.
“The commission is aware that clubs have budgeted to receive funding in the current year and believe that by making the advance, any financial pressure they might come under can be removed while we work towards an agreement.
“This funding will be available immediately as a loan against future grant payments to give the clubs the cash flow they need during the negotiation process.”
Source: Canberra Times
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